Retail prices of the popular petrol grade 92-RON dropped by nearly 4 percent across Vietnam today, averaging VND14,699 per liter.
The prices of bio-fuel grade E5 reduced by VND593 to VND14,250.
It was the fourth consecutive fuel price cut after five hikes in a row and the eighth cut since the beginning of this year.
The prices of diesel was also down by VND637, and kerosene and mazut by over VND370 per liter.
The Ministry of Finance and the Ministry of Industry and Trade are tasked with reviewing pump prices for adjustment after every 15 days.
The ministries said that global fuel prices in the past 15 days to August 4 was US$47.02 per barrel, down nearly $3 USD per barrel.
It was the fourth consecutive fuel price cut after five hikes in a row and the eighth cut since the beginning of this year. Photo credit: Zing